Equity Bank Kenya and International Finance Corporation (IFC) are jointly providing marginalised groups in Kenya with a $20 million (about Sh2.58 billion) Risk Sharing Facility (RSF) to enhance financial inclusion. This is the first global risk-sharing facility dedicated to financial inclusion for refugees and their host communities. It will be implemented in 14 marginalized counties across Kenya, among them Turkana and Garissa which host Kakuma and Dadaab refugee camps, with the goal of supporting refugees and their host communities towards social economic empowerment that ultimately lead to self-reliance. “The Risk Sharing Facility (RSF) program is a crucial component of our…
Author: NBM CORRESPONDENT
Alcohol manufacturer, Kenya Wine Agencies Limited (KWAL), has introduced Windhoek Beer to the Kenyan market. KWAL boasts a diverse portfolio of ciders, wine, spirits, and Heineken beer, and has now added Windhoek Beer, a premium brand known for its purity and craftsmanship. Established in 1920, Windhoek Beer is brewed in Namibia using three natural ingredients: malted barley, hops, and water delivering a pure and uncompromised flavour. “Kenya’s beer lovers are becoming more discerning, and Windhoek’s commitment to purity and quality aligns perfectly with this growing demand,” said Lina Githuka, Managing Director of KWAL. Ms Githuka added that the…
The Aga Khan, imam of the Ismaili Muslims, has died at the age of 88 in Lisbon, his foundation announced on Tuesday. “His Highness Prince Karim Al-Hussaini, Aga Khan IV, 49th hereditary Imam of the Shia Ismaili Muslims and direct descendant of the Prophet Muhammad (peace be upon him), passed away peacefully in Lisbon on 4 February 2025, aged 88, surrounded by his family,” the Aga Khan Foundation posted on social media. “The announcement of his designated successor will follow,” it added in relation to who could become the fifth person to hold the post since the 19th century. Considered by those that…
Micro, Small and Medium Enterprises (MSMES) owed at least Sh10 million by the government will be given the first priority in a fresh bid to clear Sh 206 billion debts owed to vendors, Treasury Cabinet Secretary (CS) John Mbadi said on Monday, January 3. “Analysis shows that over 90 per cent of the verified pending bills are between Sh1-Sh10 million, only 5 per cent are above Sh10 million,” CS Mbadi said in response to suspicions that nearly half of the current verified pending bills are not real. But even as CS Mbadi assures tiny suppliers that about Sh 10 million…
Kenyans are increasingly turning to the “Lipa pole pole” alternative, also known as the hire purchase plan, to afford smartphones amid high costs and limited credit access, according to a recent survey by the Kenya National Bureau of Statistics (KNBS). The 2024 FinAccess Household Survey found that 9.9% of Kenyan adults are using this payment plan because they cannot afford expensive mobile phones. Youth from rural areas make up 45.5% of this group. Additionally, 53.7% of Kenyans own a mobile phone, with the majority in urban areas (64.6%) compared to rural areas (48.6%). In this financial gap, more Kenyans, especially…
Presidents William Ruto and Abdel Fattah El-Sisi have signed a partnership to elevate the relations between Kenya and Egypt and strengthen their ties to boost engagements in various fields. The two governments also signed 12 agreements that expand their cooperation into various sectors. These memoranda of understanding will strengthen trade, investment, education and research, and technological exchanges, among others, unlocking immense opportunities for the two nations and their citizens. The agreements include political consultations, diplomatic training in capacity building in foreign service, and investment cooperation between the Kenya Investment Authority and General Authority for Investment and Free Zones of Egypt.…
Excessive borrowing is making tutors poorer, raising need for better, sustainable alternatives.
Mr Willy Kimani — the man who built the Naivas brand when he was its Chief Operating Officer for 13 years — left the supermarket chain in December to make his foray into the digital retail market through a new brand, Jaza Home, in which he is one of the founding directors. Having worked for dominant supermarket chains, among them Uchumi and Naivas, Mr Kimani took the risk of branching out into a new retail format based on low cost rather than variety of goods, taking competition to traditional supermarkets for which he was a business leader since he left…
Views on the current Chinese economy vary, and here are three perspectives. China’s economy maintains stable, positive growth momentum. Recently, the positive signs of China’s economy were particularly evident as many indicators showed marginal improvement. Many economists believe that the Chinese economy has posted stable performance based on a firm footing. On the demand side: The year-on-year growth rate of the total retail sales of consumer goods in September was 1.1 percentage points higher than the previous month. Fixed-asset investment rose 3.4 percent in the first three quarters of this year, spurred by vibrant capital influx into high-tech industries. Exports…
Can you identify someone in your circle who disrupts conformity and completely disregards it? These are the kind to keep close to you, lest you die before living. By Brenda Viola Many people keep preaching about how good it is to be predictable. In most cases, society’s perception of what is deemed acceptable, beautiful, creative, and godly among many societal standards, squeezed the life out of my soul. One day, I wondered why mother and her friends would relentlessly remind me of my inevitable path towards marriage. My friends on the other hand, had no objections to this fate. In…